Retirement Planning

Why Your 401(k) Employer Match May Not Be Free Money After All

Why Your 401(k) Employer Match May Not Be Free Money After All

Anytime you come across a personal finance-related article, chances are, you'll likely read advice from a financial advisor or "personal finance expert" preaching you should contribute money to your 401(k) up to the employer match because it's essentially "free money." Sound familiar?

Unfortunately, this type of blanket advice is not always true and could be dangerous, especially if one is trying to pay down high interest credit card debt. 

Here's why your 401(k) employer match may not be free money after all. 

lifelaidout Q1 '17 Update

lifelaidout Q1 '17 Update

I hope your 2017 has been off to a good start! On the east coast, it seems like we're finally making way for warmer weather (fingers crossed). 

At lifelaidout, we've been working hard to help people reach their financial goals through comprehensive planning as well as educating people about personal financial strategies through articles, talks, and media mentions

See below for a summary of what we've been up to. If you would like to explore working together, through individualized planning or a company/group talk, please email me at roger@lifelaidout.com to start the process. 

Here's How to Sneak $36,000 a Year into a Roth IRA

Here's How to Sneak $36,000 a Year into a Roth IRA

You might have read about how anyone could sneak $5,500 a year into a Roth IRA - even if exceeding standard income limitations - through a technique known as the backdoor Roth IRA. But did you know there is an even trickier technique out there that allows some lucky people to contribute up to $36,000 a year into a Roth IRA? Given the larger size and to differentiate it from the typical backdoor Roth IRA, some have started calling this technique the "mega backdoor Roth IRA.”

Executing the Backdoor Roth IRA

Executing the Backdoor Roth IRA

A Roth IRA is the ultimate retirement vehicle, as it allows you to contribute post-tax dollars to a retirement account. That means a Roth IRA grows tax-free and is withdrawn tax-free since you've paid taxes on the money upfront. That sounds like a good deal - unless you bump up against income barriers. If you make too much money, you might find yourself blocked from contributing to a Roth IRA - that is, unless you go through the backdoor.